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 Post subject: April 11th Thursday Trade Results - Loss $200
PostPosted: Fri Apr 12, 2013 2:02 am 
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Joined: Sat Jan 10, 2009 2:06 pm
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
Business Hours: 8am - 5pm est (Mon - Fri)
questions@thestrategylab.com (24/7)
http://twitter.com/wrbtrader (24/7)

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click on the above image to view today's performance verification

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ ($200.00) dollars or -2.00 points, Light Crude Oil CL ($CL_F) futures @ $0.00 dollars or +0.00 points, Gold GC ($GC_F) futures @ $0.00 dollars or +0.00 points, EuroFX 6E ($6E_F) futures @ $0.00 dollars or +0.0000 ticks and Emini ES ($ES_F) futures @ $0.00 dollars or +0.00 points. Total Loss @ ($200.00) dollars.

Russell 2000 Emini TF Futures: 1 tick or 0.10 = $10.00 dollars and there's more contract information @ The ICE
Light Crude Oil CL (WTI) Futures: 1 tick or 0.01 = $10.00 dollars and there's more contract information @ CMEGroup
Gold GC Futures: 1 tick or 0.10 = $10.00 dollars and there's more contract information @ CMEGroup
EuroFX 6E Futures: 1 tick or 0.0001 = $12.50 dollars and there's more contract information @ CMEGroup
S&P 500 Emini ES Futures: 1 tick or 0.25 = $12.50 dollars and there's more contract information @ CMEGroup

In addition, all trades were posted real-time in the free ##TheStrategyLab chat room. You can read today's ##TheStrategyLab trading chat room logs for details about each one of my trades via price action trading from entry to exit (e.g. time, price, contract size) along with price action commentary as the trade traversed in comparison to what's shown in the above image...all archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=116&t=1481

Also, posted below are direct links to information about my price action trade methodology and trading plan (there's a difference between the two) that enables me to identify key trading areas in the price action that represent changes in supply/demand and volatility along with being able to exploit these changes via WRB Analysis (wide range body/bar analysis). I'm primarily a day trader because it suits my personal lifestyle but I do occasionally swing trade and position trade.

Image Price Action Analysis via WRB Analysis Tutorials @ http://www.thestrategylab.com/WRBAnalysisTutorials.htm and there's a free study guide of the WRB Analysis Tutorial Chapters 1, 2 and 3 @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=119&t=718

Image Trade Signal Strategies via Volatility Trading Report (VTR) @ http://www.thestrategylab.com/VolatilityTrading.htm and there's a free trade signal strategy @ http://www.thestrategylab.com/tsl/forum/viewforum.php?f=89 so that you can freely test drive one of our price action trade strategies with support prior to purchasing the Volatility Trading Report (VTR).

Image Trading Plan Daily Routine @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=207&t=1794

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Market Summaries

The below summaries by Bloomberg, CNNMoney, Reuters and Yahoo! Finance helps me to do a quick review of the fundamentals, FED/ECB/IMF actions or any important global economic events (e.g. Eurozone, MarketWatch.com) that had an impact on today's price action in many trading instruments I monitor during the trading day. Simply, I'm a strong believer that key market events causes key changes in supply/demand and volatility resulting in trade opportunities (swing points and strong continuation price actions) that reach profit targets. Thus, I pay attention to these key market events, intermarket analysis (e.g. Forex EurUsd, EuroFX 6E futures, Gold GC futures, Light Crude Oil (WTI) CL & Brent Oil futures, Eurex DAX futures, Euronext FTSE100 futures, Emini ES futures, Emini TF futures, Treasury ZB futures and U.S. Dollar Index futures) while using WRB Analysis from one trade to the next trade to give me the market context for price action trading before the appearance of my technical analysis trade signals. Therefore, I maintain these archives to allow me to understand what was happening on any given trading day in the past involving key market events to help better understand my trade decisions (day trading, swing trading, position trading)...something I can not get from my broker statements alone.

Another Record Close For Dow and S&P 500

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click on the above image to view today's price action of key markets

NEW YORK (CNNMoney)
U.S. stocks had another day of gains Thursday that pushed the Dow and S&P 500 to new record highs.

The Dow Jones Industrial Average topped the previous day's record high, rising 0.4% to close at 14,865.14. The blue chip index is now less than 1% away from 15,000.

The S&P 500 gained nearly 0.4% to 1,593.37, also a new record and putting the broad index just 0.4% away from 1,600.

"It's a market that's climbed the walls of worry. When there are pullbacks, the market rebounds quickly," said Tim Ghriskey, chief investment officer at Solaris Asset Management.

The outlier was the Nasdaq , which was dragged down by weakness in the tech sector. Shares of PC-related companies extended the prior day's sell-off following news that PC sales fell 14% worldwide last quarter.

Shares of Microsoft (MSFT, Fortune 500), Intel (INTC, Fortune 500) and Hewlett-Packard (HPQ, Fortune 500) fell between 3% and 7%.

Herbalife (HLF) spiked 3% after the Securities and Exchange Commission filed insider trading charges against the former KPMG partner who was fired after allegedly leaking insider trading information. KPMG resigned as auditor of the nutritional supplement company on Wednesday.

Related: Stock rally has room to run

On the economic front, investors largely shrugged off a better-than-expected weekly report on initial jobless claims.

Retailers also reported a mixed bag of February same-store sales -- a key metric used to gauge consumer spending.

Sales at Costco (COST, Fortune 500) rose 4%, missing forecasts, while Gap (GPS, Fortune 500) reported same-store sales that rose a better-than-expected 3% in the latest month.

Shares of Yum Brands (YUM, Fortune 500) were slightly higher after falling in premarket trading. The restaurant operator revealed that its same-store sales in China dropped in March amid an ongoing food safety scandal and concerns about bird flu.

Despite the company's recall of 1.7 million vehicles because of airbag defects, Toyota (TM) shares rose. Honda (HMC) shares also gained, even after the automaker said it was recalling 1.1 million vehicles with airbag problems. Shares of airbag supplier Takata Corp closed down 9% in Tokyo.

Related: Fear & Greed Index heads back into greed

Meanwhile, corporate results continued to roll in.

Drugstore chain Rite Aid (RAD, Fortune 500) swung to a profit in the latest quarter, trouncing forecasts and sending shares up 19%. Bed Bath & Beyond (BBBY, Fortune 500) reported earnings in line with forecasts, as sales continued to rise.

The first of the big banks, JPMorgan (JPM, Fortune 500) and Wells Fargo (WFC, Fortune 500), will report their results ahead of the opening bell Friday.

Related: Wall Street sours on gold

European markets closed higher, supported by Wall Street's record-breaking run.

Asian markets also ended with gains. The Shanghai Composite added 0.1%, the Hang Seng increased 0.3% and the Nikkei jumped 2%.

Oil prices were lower, while gold prices were slightly higher.

The yield on the 10-year Treasury fell to 1.79% from 1.81% Tuesday.

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4:20 pm : The S&P 500 settled higher by 0.4% after spending the bulk of today's action in the black while the tech-heavy Nasdaq ended flat.

The technology sector was under pressure after the International Data Corporation indicated first-quarter PC shipments plunged 14%. This marked the largest decline on record since IDC began tracking shipments in 1994, and pressured major tech names. Hewlett-Packard (HPQ 20.88, -1.44) fell 6.5% while Intel (INTC 21.82, -0.44) and Microsoft (MSFT 28.94, -1.35) settled with respective losses of 2.0% and 4.4%.

The news also weighed on chipmakers as the PHLX Semiconductor Index shed 0.4%. As a result of the broad sector weakness, the tech space was the only sector which settled in the red. The underperformance also weighed on the Nasdaq, which was unable to break away from its flat line.

Excluding technology, the other nine sectors ended with gains as health care and consumer discretionary stocks paced today's advance.

While the discretionary space saw strength across the board, retailers stood out. The SPDR S&P Retail ETF (XRT 72.97, +1.43) jumped 2.0% despite less-than-stellar same store sales reports from several companies. Although six retailers reported same store sales below the Retail Metrics Consensus, only two settled in the red.

The retail space will be in focus once again tomorrow when the census bureau sheds some light on March retail sales. The Briefing.com consensus expects an unchanged reading to follow February's increase of 1.1%.

Although the broader market ended higher, today's leadership was mixed. Two of the recent leaders, health care and transports, finished with different results. Health care was atop the leaderboard while the Dow Jones Transportation Average lagged.

The 20-stock index ended lower by 0.3% as truckers were stuck in reverse. Con-way (CNW 34.28, -0.58) and JB Hunt (JBHT 74.22, -0.65) both lost near 1.0%. Although the bellwether complex has been one of the top performers year-to-date, the Transportation Average is down 1.5% so far this month.

Notably, the financial sector outperformed intraday, but saw some weakness into the close. JPMorgan Chase (JPM 49.31, +0.06) and Wells Fargo (WFC 37.51, -0.06) ended little changed with the two scheduled to report their first quarter earnings ahead of tomorrow's opening bell.

Volume was below average as 643 million shares changed hands on the floor of the New York Stock Exchange.

Today's economic data was limited to weekly initial claims as well as import and export prices.

After two weeks of elevated initial claims readings, claims settled back down below 350,000 for the week ending April 6. The initial claims level fell to 346,000 from an upwardly revised 388,000 (from 385,000) for the week ending March 30. The Briefing.com consensus expected the initial claims level to fall to 365,000.

The drop in claims does not represent a strengthening in labor conditions.

The Department of Labor has difficulty adjusting the data from the seasonal biases related to the changing Easter holiday. The bump up in claims last week was the result of poor seasonal adjustments accounting for Easter occurring earlier in the year than normal.

Export prices, excluding agriculture, decreased by 0.2% in March after they had increased 0.6% during the prior month. Excluding oil, import prices declined 0.2%, which follows last month's unchanged reading.

Tomorrow, March retail sales, retail sales ex-auto, PPI, and core PPI will all be reported at 8:30 ET. In addition, the preliminary University of Michigan Consumer Sentiment Survey for April as well as February business inventories will be released at 9:55 ET and 10:00 ET, respectively.DJ30 +62.90 NASDAQ +2.91 SP500 +5.64 NASDAQ Adv/Vol/Dec 1188/1.77 bln/1240 NYSE Adv/Vol/Dec 1840/642.8 mln/1168

3:30 pm :

May crude oil fell for the first time in four sessions as weakness came on the International Energy Agency cutting its 2013 global oil demand growth forecast. The energy component pulled back from its session high of $94.51 per barrel set in early morning floor trade and touched a session low of $93.08 per barrel. It booked a 1.2% loss as it settled at $93.44 per barrel.
May natural gas popped into positive territory following inventory data that showed a draw of 14 bcf when a draw of 21 bcf was anticipated. It advanced to a session high of $4.18 per MMBtu but pulled back in afternoon trade, and settled with a 1.2% gain at $4.14 per MMBtu.
June gold fell into negative territory and to a session low of $1555.50 per ounce on jobless claims data released early this morning. However, the yellow metal got a boost from a weaker dollar index and lifted back into the black. It touched a session high of $1568.10 per ounce in mid-morning action and traded slightly below that level for the remainder of the session. It eventually settled 0.4% higher at $1564.70 per ounce.
May silver also lifted off its session low of $27.48 per ounce and spent most of floor trade chopping around slightly above the unchanged line. It settled 0.2% higher at $27.69 per ounce.

DJ30 +57.92 NASDAQ +2.02 SP500 +5.51 NASDAQ Adv/Vol/Dec 1182/1476.6 mln/1264 NYSE Adv/Vol/Dec 1799/1476.6 mln/1199

3:00 pm : Heading into the final hour of action, the S&P 500 is firmer by 0.4% as the index attempts to climb to fresh afternoon highs. The Nasdaq, however, has spent the entire session near its flat line as the technology sector remains in the red.

Excluding tech stocks, the other nine sectors all trade with gains of at least 0.2%. The defensively-geared utilities space has been the most tentative in its advance while the growth-oriented materials group also trails behind the broader market.

The materials sector has acted shaky as of late. Although the group is higher by 2.6% so far this week, the sector is little changed this month. The materials group has also shown relative weakness so far this year, outperforming only the technology sector, which is up 4.1% in 2013.DJ30 +64.46 NASDAQ +3.39 SP500 +6.60 NASDAQ Adv/Vol/Dec 1223/1.34 bln/1213 NYSE Adv/Vol/Dec 1837/399.1 mln/1163

2:30 pm : Recent action saw the S&P 500 continue to slip away from its session high. The benchmark average is firmer by 0.2% as the index trades in the middle of its range.

With the broader market slipping away from its highs, today's top sectors also took a step back from their best levels of the day. Retailers, however, remain bid, with the SPDR S&P Retail ETF (XRT 73.19, +1.65) higher by 2.3%.DJ30 +55.00 NASDAQ +0.30 SP500 +5.38 NASDAQ Adv/Vol/Dec 1180/1.25 bln/1229 NYSE Adv/Vol/Dec 1776/367.1 mln/1188

2:00 pm : The Dow and S&P 500 continue to hover near their best levels of the day while the Nasdaq has slid back to its flat line.

The earlier report, which indicated PC shipments saw a 14% first-quarter plunge, continues to pressure the technology sector as well as the Nasdaq.

While the tech sector is the biggest laggard of the day, the closely-watched Dow Jones Transportation Average trades with a loss as well. Truckers have pulled the group into the red with Con-way (CNW 34.25, -0.61) and Ryder System (R 60.62, -0.85) both down near 1.5%. Although the 20-stock complex has been one of the top performers year-to-date, the Transportation Average is down 1.4% so far this month.DJ30 +56.33 NASDAQ +0.49 SP500 +5.75 NASDAQ Adv/Vol/Dec 1201/1.15 bln/1205 NYSE Adv/Vol/Dec 1779/337.9 mln/1166

1:30 pm : Afternoon action has slowed down considerably with the S&P 500 spending the past hour in a one point range. While the S&P has shown little change in the past 30 minutes, the Nasdaq has been able to add four points to pull away from its unchanged level.

Retailers have made a strong contribution to today's performance, but the growth-oriented discretionary sector shares the session lead with the defensively-minded health care space. Both groups trade with gains of at least 1.0%.

The strength of the two sectors has been a common theme during the ongoing market rally. While the S&P 500 is up 11.9% year-to-date, the health care sector has added 20.0% while discretionary stocks are higher by 14.3% so far this year.DJ30 +67.67 NASDAQ +3.08 SP500 +7.44 NASDAQ Adv/Vol/Dec 1278/1.05 bln/1122 NYSE Adv/Vol/Dec 1852/309.6 mln/1096

1:05 pm : The S&P 500 trades higher by 0.5%.

The benchmark average spent the first two hours of the day in a steady climb before notching its session high at 1597.37. The index then surrendered about three points as it slid to the 1595 area, where it continues to hover at midday.

While the S&P trades near its highs, the Nasdaq has been unable to escape the gravitational pull of its flat line.

The tech-heavy index trails behind the broader market after the International Data Corporation pointed to a 14% decline in first quarter PC shipments. The news resulted in broad weakness among major tech names which rely on a healthy personal computer market. Hewlett-Packard (HPQ 20.76, -1.56), Intel (INTC 21.66, -0.60), and Microsoft (MSFT 28.74, -1.54) are all down between 2.7% and 7.1%.

Earlier action saw chipmakers climb into positive territory, but the broad sector weakness has pressured the group back near its lows. The PHLX Semiconductor Index is off by 0.6%.

As a result of broad tech weakness, the technology space is the only sector which trades in the red at midday.

On the upside, the discretionary group is the top performing sector with retailers showing considerable strength. The SPDR S&P Retail ETF (XRT 73.13, +1.59) is firmer by 2.2% despite less-than-stellar same store sales reports from several names. Interestingly, of the six companies which fell short of the Retail Metrics consensus forecast, only Cato (CATO 24.79, -0.04) trades with a slim loss.

Retailers will remain in focus tomorrow when the census bureau sheds some light on March retail sales. The Briefing.com consensus expects an unchanged reading to follow February's increase of 1.1%.

Although the broader market remains higher, the CBOE Volatility Index (VIX 12.46, +0.10) is near its best level of the day as well. This suggests downside protection is receiving some interest despite the Dow and S&P trading at record levels.DJ30 +82.67 NASDAQ +4.93 SP500 +8.44 NASDAQ Adv/Vol/Dec 1293/975.3 mln/1081 NYSE Adv/Vol/Dec 1890/284.9 mln/1043

12:30 pm : Recent trade saw the S&P 500 continue to trade with a gain of 0.3%. In addition, the Nasdaq remains bound to its flat line as the earlier report of a significant drop in first-quarter PC sales continues to weigh.

Earlier action saw the chipmakers climb into positive territory, but the broad sector weakness has pressured the group back near their lows. The PHLX Semiconductor Index is off by 0.8%.

Notably, while the broader market remains higher, the CBOE Volatility Index (VIX 12.55, +0.19) is near its best levels of the day as well. This suggests downside protection is receiving some interest despite the Dow and S&P trading near record levels.DJ30 +50.86 NASDAQ -1.00 SP500 +4.99 NASDAQ Adv/Vol/Dec 1238/877.9 mln/1141 NYSE Adv/Vol/Dec 1795/258.2 mln/1113

12:00 pm : After spending the first two hours of the session in a steady climb, recent trade saw the S&P 500 take a step back from its high of 1597.37. The benchmark average continues to trade higher by 0.4% while the tech-heavy Nasdaq is flat.

The discretionary sector remains in the lead, and is the only group trading with a gain in excess of 1.0%.

Notably, financials can also be found among today's outperformers. JPMorgan Chase (JPM 49.55, +0.30) and Wells Fargo (WFC 37.73, +0.16) will be in focus today when the two report their quarterly results. Today, the two stocks trade ahead of the broader market while the SPDR Financial Select Sector ETF (XLF 18.60, +0.10) is higher by 0.5%.DJ30 +55.46 NASDAQ +1.13 SP500 +5.76 NASDAQ Adv/Vol/Dec 1254/795.8 mln/1086 NYSE Adv/Vol/Dec 1839/235.5 mln/1044

11:30 am : There has been no stopping to the buying interest so far today. After opening slightly lower, the S&P 500 set off on a steady climb, which continues at this time. The S&P is now higher by 0.5%, which brings its month-to-date gain to 1.7%.

While the benchmark average is up almost 2.0% this month, the tech-heavy Nasdaq is looking at a month-to-date gain of 1.1%.

Today, the Nasdaq trails behind the other two indices with the pressure resulting from an International Data Corporation report, which indicated first-quarter PC shipments declined 14.0%. Although the Nasdaq trades with a slim gain, the SPDR Technology Select Sector ETF (XLK 30.52, -0.08) is off by 0.3%.DJ30 +67.54 NASDAQ +7.20 SP500 +8.09 NASDAQ Adv/Vol/Dec 1342/689.2 mln/976 NYSE Adv/Vol/Dec 1964/205.9 mln/905

11:00 am : The S&P 500 has continued its steady climb higher and the index now trades with a gain of 0.3%. The discretionary sector remains the top performer with retailers picking up strength. The SPDR S&P Retail ETF (XRT 73.23, +1.69) is up 2.4%. Today's notable advance comes despite several names reporting their March same store sales below expectations.

Retailers will remain in focus tomorrow when the census bureau reports March retail sales. The Briefing.com consensus expects an unchanged reading to follow February's increase of 1.1%.

On the downside, the technology sector remains in the red as the disappointing first quarter PC shipments weigh. The SDPR Technology Select Sector ETF (XLK 30.50, -0.10) is off by 0.3%.DJ30 +61.29 NASDAQ +5.45 SP500 +7.37 NASDAQ Adv/Vol/Dec 1247/557.2 mln/1035 NYSE Adv/Vol/Dec 1893/166.6 mln/942

10:35 am : Commodities are mixed this morning with the dollar index in negative territory and near its session low.

Energy is weak, while crude oil and natural gas futures in the red. Just ahead of the weekly natural gas data, May nat gas hit a new session low around $4.05/MMBtu. Following the data, the energy component spiked and a new HoD. In current action, May nat gas is +1.0% at $4.12/MMBtu.

May crude oil has been in the red all session and sold off below $94/barrel about an hour ago. May crude oil has since recovered somewhat and is now -0.5% at $94.14/barrel.

Precious metals put in a nice rally a short while ago and, despite a small pullback, are still near session highs. June gold is now +0.4% at $1564.20/oz, while May silver is +0.2% at $27.71/oz. May copper just rallied and a new session high of $3.43/lb and is now +0.3% at $3.43/lb.DJ30 +30.80 NASDAQ -3.10 SP500 +3.25 NASDAQ Adv/Vol/Dec 1176/450.1 mln/1046 NYSE Adv/Vol/Dec 1736/133 mln/1067

10:00 am : The S&P 500 has climbed out of the red, and it now trades higher by 0.1%. Meanwhile, the Nasdaq continues to hover near its lows as the news of a sharp drop in first-quarter PC sales weighs on manufacturers of computer components. Notably, Hewlett-Packard (HPQ 21.08, -1.23) is down 5.5%.

While technology shares trade lower, all other sectors have been able to register early gains. The discretionary group is the top performer with apparel retailers seeing firm gains despite mixed March same store sales reports. Ross Stores (ROST 64.01, +3.78) is a notable outperformer, trading higher by 6.3% after its March same store sales grew 2.1% while the Retail Metrics consensus expected a decline of 8.0%.DJ30 +18.64 NASDAQ -2.92 SP500 +1.67 NASDAQ Adv/Vol/Dec 1122/285.2 mln/1013 NYSE Adv/Vol/Dec 1605/91.9 mln/1110

09:45 am : The major averages have slipped to their early lows. The S&P 500 is off by 0.1% while Nasdaq is down 0.2%.

The tech-heavy index lags as major tech components weigh after the International Data Corporation pointed to a 14% decline in first quarter PC shipments. Hewlett-Packard (HPQ 20.90, -1.42) is slumping 6.4% and Microsoft (MSFT 29.07, -1.21) is down 4.1%. Meanwhile, the broader SPDR Technology Select Sector ETF (XLK 30.38, -0.21) is off by 0.7%.

On the upside, consumer discretionary stock trade ahead of the broader market. The SPDR Consumer Discretionary Select Sector ETF (XLY 53.97, +0.30) is higher by 0.6%.DJ30 -7.39 NASDAQ -7.69 SP500 -0.85 NASDAQ Adv/Vol/Dec 939/188.1 mln/1104 NYSE Adv/Vol/Dec 1353/69.5 mln/1320

09:17 am : [BRIEFING.COM] S&P futures vs fair value: +1.50. Nasdaq futures vs fair value: -7.00. Equity futures trade in mixed fashion as the start of the cash session nears. The Dow and S&P 500 futures continue to trade with slim gains while futures on the Nasdaq are off by 0.3%.

The relative weakness of Nasdaq futures comes amid notable underperformance by major tech names. Hewlett-Packard (HPQ 20.96, -1.36), Intel (INTC 21.75, -0.51), and Microsoft (MSFT 29.22, -1.06) are all down between 2.1% and 6.1% on considerable volume. In addition, a Goldman Sachs downgrade of Microsoft has added to the pre-market pressure.

Looking at the day's economic data, weekly initial claims were reported at 346,000, which was ahead of the Briefing.com consensus estimate which expected claims to come in at 365,000.

08:58 am : [BRIEFING.COM] S&P futures vs fair value: +1.20. Nasdaq futures vs fair value: -6.50.

U.S. equity futures continue to trade in mixed fashion. The S&P 500 futures trade with fractional gains while Nasdaq futures are off by 0.2%.

It was a sea of green across Asia as all of the major bourses, aside from China's Shanghai Composite (-0.3%) ended in positive territory. Chinese shares were lower as bird flu worries continued to weigh. The selling came despite data which showed Chinese new loans surged to CNY1060 billion (CNY890 billion expected). Elsewhere, Japan's Nikkei (2.0%) was once again the top performer, even after Bank of Japan Governor Kuroda suggested the central bank has 'done what is necessary for now.' Aiding the gains was a 7.5% month-over-month jump in core machinery orders (6.9% expected). Central bank action, or more appropriately inaction, saw both the Bank of Korea and Bank Indonesia hold their key rates steady at 2.75% and 5.75% respectively. Data from the rest of the region saw Australia's economy shed 36.1K jobs (-6.7K expected) as its unemployment rate climbed to 5.6% (5.4% expected, 5.4% previous), and Malaysia's industrial production fall 4.5% year-over-year (-2.7% expected).

In Japan, the Nikkei closed higher by 2.0% as trade hit its best level in almost five years. Exporters were strong as Toyota Motor surged 5.8% while Canon jumped 4.2%. Elsewhere, real estate names rebounded after some recent weakness as Mitsui Fudosan and Sumitomo Realty & Development rallied 3.4% and 1.4% respectively.
Hong Kong's Hang Seng added 0.3% as shares gained for a third day. Hengan International rallied 3.1% as traders moved into the name on speculation the bird flu scare will increase demand for their surgical masks. Meanwhile, aluminum maker Chalco continued to outperform, posting a 3.3% advance.
In China, the Shanghai Composite shed 0.3% as trade holds just off the 2013 lows. Commodity-related names were weak as Yanzhou Coal lost 0.4% and coal-based China Shenhua Energy fell 1.1%.

European indices trade with modest gains after only a handful of economic reports crossed the wires. French CPI increased 0.8% month-over-month versus the expected rise of 0.7%. Germany's CPI rose 0.5% month-over-month while the year-over-year reading climbed 1.4%. Both numbers were in-line with consensus estimates. Elsewhere, Greek unemployment climbed to 27.2% in January after reporting a rate of 25.7% in December.

In news, Eurozone officials have indicated the Cypriot bailout plan will be approved at Friday's eurogroup meeting with the first tranche of aid likely to be disbursed in early May.

The United Kingdom's FTSE is rising 0.1% with consumer names outperforming. Burberry and Marks & Spencer Group are both up near 2.5%. On the downside, steelmaker Evraz is down 11.0% after the company said it will not pay its final 2012 dividend.
In Germany, the DAX is higher by 0.4% as producers of basic materials outperform. BASF and Linde trade with respective gains of 0.6% and 1.7%. On the downside, ThyssenKrupp is down 5.4% amid concerns about the health of the steel industry after Evraz suspended its dividend.
France's CAC is up 0.6% as most components advance. Renault is rising 2.0%, and is the top performing index component. On the downside, steel producer ArcelorMittal is down 2.3%.

08:33 am : [BRIEFING.COM] S&P futures vs fair value: +2.20. Nasdaq futures vs fair value: -4.80. U.S. equity futures ticked higher in reaction to better-than-expected initial claims data. The S&P 500 futures are higher by 0.1%.

The latest weekly initial jobless claims count totaled 346,000, which was lower than the 365,000 that had been expected by the Briefing.com consensus. Today's tally was below the prior week count of 388,000. As for continuing claims, they fell to 3.079 million from 3.091 million.

Export prices, excluding agriculture, decreased by 0.2% in March after they had increased 0.6% during the prior month. Excluding oil, import prices declined 0.2%, which follows last month's unchanged reading.

08:04 am : [BRIEFING.COM] S&P futures vs fair value: +0.80. Nasdaq futures vs fair value: -6.50.

U.S. equity futures trade in mixed fashion with the S&P 500 futures flat. Meanwhile, futures on the Nasdaq are lower by 0.2% as manufacturers of computer parts underperform after International Data Corporation pointed to a 14% decline in first quarter PC shipments.

Looking at overnight developments:

Asian markets ended mixed. Hong Kong's Hang Seng added 0.3%, Japan's Nikkei rose 2.0% while China's Shanghai Composite shed 0.3%.
Reviewing regional economic data:
The Bank of Korea held its key interest rate unchanged at 2.75% while the market had expected a 25 basis point cut.
Japan's core machinery orders rose 7.5% month-over-month after declining 13.1% last month (+6.8% consensus).
In Australia, the country's employment change of -36.1K was worse than the expected -5.0K. As a result, the unemployment rate ticked up to 5.6% from the previously reported 5.4%.
In news:
Bank of Japan Governor Haruhiko Kuroda said the current easing measures have staying power and the central bank's 2.0% inflation target will be achieved.
The Chinese press reports that small businesses have expressed low optimism in the country's economic outlook.

European indices trade with modest gains. The United Kingdom's FTSE is higher by 0.3% while France's CAC and Germany's DAX are both up 0.5%.
Regional economic news was limited:
Germany's CPI rose 0.5% month-over-month while the year-over-year reading climbed 1.4%. Both numbers were in-line with consensus estimates.
French CPI increased 0.8% month-over-month versus the expected rise of 0.7%.
Greek unemployment climbed to 27.2% in January after reporting a rate of 25.7% in December.
Looking at news:
Eurozone officials have indicated the Cypriot bailout plan will be approved at Friday's eurogroup meeting with the first tranche of aid likely to be disbursed in early May.

In U.S. corporate news:

As mentioned earlier, technology names trade lower following the disappointing global PC shipments data from IDC. Hewlett-Packard (HPQ 21.10, -1.22), Intel (INTC 21.64, -0.62), and Microsoft (MSFT 29.22, -1.06) are all down between 2.8% and 5.5%. In addition, Apple (AAPL 432.00, -3.69) is off by 0.9%.
Bed Bath & Beyond (BBBY 66.50, +1.00) is rising 1.5% after reporting in-line earnings and revenue. However, the company guided first quarter earnings below consensus while full-year earnings growth is expected to be in mid-single to low-double digits.

Weekly initial and continuing claims will be reported at 8:30 ET. In addition, March export prices ex-agriculture and import prices ex-oil will also be announced at 8:30 ET.

The U.S. Treasury will hold a $13 billion reopening of 30-yr bonds.

06:33 am : [BRIEFING.COM] S&P futures vs fair value: +2.50. Nasdaq futures vs fair value: -2.00.

06:33 am : Nikkei...13549.16...+261.00...+2.00%. Hang Seng...22101.27...+66.70...+0.30%.

06:33 am : FTSE...6405.68...+18.30...+0.30%. DAX...7852.79...+18.90...+0.50%.

Special thanks to Bloomberg, CNNMoney, Reuters and Yahoo! Finance for their market summaries. gm

Best Regards,
M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Image@ http://twitter.com/wrbtrader Image@ http://stocktwits.com/wrbtrader

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